Is keeping cash under your mattress a smarter idea?

[klassicdoll]

For some people, having cash under the mattress makes sense, but it's not safe, it yields no interest, and it depreciates with time. It's probably not a good idea to start building or maintaining a healthy financial life by storing your money in your mattress. With this, I think you should invest it or save it in financial institutions.

 

[King Belieal]

I just pray that you don't have relatives who have discounted their morality living with you. They would make you learn to use the bank at all costs next time rather than under the mattress.

 

[freelancermaria]

I have never tried this approach to saving money before. Every year, I only manage to save a modest amount, which I carefully put in a Mason jar. Although the amount may appear small to some, it has proven to be beneficial in my personal savings journey. Over time, I have gained self-control and discipline that keep me from spending my savings.

 

[Augusta]

No I don't think it is a smart idea at all. Anyone can gain access and make away with the money.

 

[eLdavis]

Personally I don't think it's a good idea, unless you are simply keeping that incase of emergency within the house.

 

[Starmix]

It could be good for only some pesos but if thousands, it sounds impractical to hide the money there. It is better to save it in the bank for safety purposes.

 

[Augusta]

But truthfully this style of hiding or keeping money is really done by oldies. Young people not necessarily do this

 

[Suba]

I have had the habit since school age of saving money in books, but not much, only around 1-10 USD. I often use this money for daily transactions or buying snacks.

 

[neku]

If people are criminally trespassing your home, it is not advisable to keep any money at home, it may get stolen. Only a small amount for daily expenses should be kept at home.

 

[Sanjeev]

My parents used to do it but not now as we have a fear that money may not get steal by someone.

 

[Fidelia]

My parents used to do it but not now as we have a fear that money may not get steal by someone.

Some people have the special gift of hiding things. No matter how much you can search, you would not find something they had hidden. Such people still hide money at home.

 

[Stardom22]

For me it's a very wonderful idea when dealing with small cash. However there are no costs associated with the transaction fees in Banks

 

[arunima25]

I have never done that. I don't keep cash, except the little that I keep for emergency and that lies safe in my safe in my house. Not under the mattresses. I keep my money in bank for it to be safe and also grow. I have them parked in different investment schemes. I am mostly into digital transactions.

 

[Starmix]

If that is the idea of the person, she might feel safe. However, it's delicate if it will be forgotten. The money might be washed together with the mattress.

 

[arunima25]

Even if you are into cash transactions mostly, under the mattresses is not a safe place to keep the cash. It would be better and safe to keep the cash in a place where it is not easily accessible by others.

 

[Starmix]

We can keep our money on our shoulder bag that's locked. But if it's at home and no kids, there's no reason why hide the money

 

[Augusta]

This can only make sense if you are living a lone but if not you should find yourself to the bank

 

[Starmix]

It's best to have a cabinet with a locker and the locker must be kept in a secret where no one can find it.

 

[Springtime]

I don't think it's a good idea. Having money under the mattress makes it inconvenient for you to change bedsheets. I keep a small amount of cash in a mini safe box at home.

 

[Hate2Wait]

Whoever likes to keep cash under the mattress does not keep a big amount of cash like that and its just for petty expenses or like daily expenses and its not a bad idea